Currency pair Euro Dollar EUR/USD completes the trading week near the area of 1.1650 and continues to move within the framework of the «Triangle» model. At this point, we should expect an attempt to test the upper limit of the model near the level of 1.1740 and the beginning of the fall of the euro/dollar in the area below the level of 1.1200 within the framework of the start of the model’s development.
EUR/USD weekly forecast & analysis July 23 — 27, 2018
In favor of the EUR/USD decline, a test of a broken trend line will appear on the indicator of relative strength index (RSI). The cancellation of the pair fall in the current trading week on July 23 – 27, 2018 will be a strong growth and breakdown at the level of 1.1820, which will indicate the breakdown of the upper limit of the model and the continuation of the pair’s growth to the level above 1.2120. With the breakdown of the lower bound of the «Triangle» model and the closing of quotes below the level of 1.1480, one should expect a confirmation of the development of a bearish trend in the pair.
EUR/USD weekly forecast & analysis July 23 — 27, 2018 suggests an attempt to rise to the upper bound of the «Triangle» near the level of 1.1740, where we can expect the pair to fall below 1.1200, in favor of the drop, an indicator of relative strength index (RSI), the cancellation of the variant of the fall of the euro/dollar will be strong growth and breakdown at the level of 1.1820, in which case we should expect the pair to continue growing with a potential target at 1.2120.
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